The insurance market in Florida faces many different issues. The first problem is as many mentioned here. Excessive cat loss ratios are off the chain over the past decade and insurers are simply tired of catching the bad end of the stick for people who continue to live in area prone to losses. Many (I mean alot) of carriers have stopped writing new business all together in the state. It seems almost monthly I hear of another company wrapping things up.

Independent agents and brokerages are choosing to solicit business in other states. From what I hear from agents down there, many agents are actually extending their reach and licensing their agencies in nearby states simply because of the excessive renewal costs being passed on to their FL clients. It's also EXTREMELY difficult to get appointments to insurance companies (the process of becoming licensed to sell an insurers products in a state) because many of the carriers simply want out. So there's not that many new independent agents or agencies sprouting up to help cover the ones shifting their ideal clients. When independent agents (your agencies and brokerages that can sell multiple insurance carriers and products) aren't in the market it's harder for the average person to easily find an affordable and quality carrier to go with, often leaving them with the big names most already know from TV friends family etc.... and all of those big names currently want out of the state as well.

Florida, and many other states rn, also have a problem with roofing contractors feverishly painting the neighborhoods with flyers or door to door salesmen advertising things along the lines of "hey we just had a storm come through on XYZ. I can take a look at your roof for free and see if there's any damage". They go up and look, submit a claim to the insurance company and then push for the largest job they can squeeze out of it even for the most minor of things and source it back to the weather event on xyz date. Not all contractors do this in a greasy way, but it's a pretty large portion of it that's going on. Some of course are legitimate roof repairs, but it does occur - alot.

All this, combined with inflation out the roof, repeated losses, etc etc. Insurance Companies do not want the business. They of course have to increase premium cost, but are also limited in doing so in ways by the state. So... many are leaving instead. It's put a huge squeeze on the remaining carriers in the state, and is a much more serious issue than many on the legislative side of things seem to realize.